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re: People who live in exclusive, high dollar, fancy neighborhoods
Posted on 8/20/14 at 12:48 pm to artompkins
Posted on 8/20/14 at 12:48 pm to artompkins
quote:
He won't admit it but I think a huge chunk is spent on his wife who is ultra high maintenance. He bought his house in early 2008 so there's no way he can sell it.
This is all just scaled differently. Him living this life making eight hundred grand is no different than how most American dreamers live at a hundred grand, stretched to the max.
1
Posted on 8/20/14 at 12:49 pm to The Third Leg
Right, but the problem is when people think that making more money will make their life easier.
Posted on 8/20/14 at 12:50 pm to constant cough
quote:
Douchebags?
Upwardly mobile parents living in clean, historic dwellings - free of crime. Money. Real or imagined.
Posted on 8/20/14 at 12:50 pm to Starrkevious Ringo
quote:
I know people in both Highland Park and Preston Hollow and I can guarantee you they aren't even CLOSE to hurting. Pretty sure the same is true for a town like Westlake. Places like that you don't bullshite your way into.
I mean, I'm sure people flame out in places like HP from time to time, but the "entry fee" to HP is so high that you're usually making good money or you're from money. Of course, that doesn't mean you still don't live above your means, but there aren't any 70k millionaires in HP.
Posted on 8/20/14 at 12:52 pm to The Third Leg
quote:
Upwardly mobile parents living in clean, historic dwellings - free of crime. Money. Real or imagined.
Something tells me you didn't grow up upper upper middle class. More like drugs, theft, fighting, vandalism. Believe me that's way more common in that class than it is in the middle or simply upper middle classes.
Posted on 8/20/14 at 12:55 pm to artompkins
quote:
I have a cousin who is a lawyer in Dallas and he went to SMU. He lives in Highland Park and brings makes 800K a year. He told me just last week after his mortgage, cars and private school tuition for his kids and credit card bills he has about $2000 a month in disposable income and they don't really have much at all in savings or retirement.
Damn
800k a year = $66k a month before taxes, so after taxes lets say $40k a month
I am guessing if he lives in HP his mortgage is in the 5-10k range
Private School tuition for say 3 kids probably runs another $10-$15k per month for 9 months
So right there he is down to $15-20k but still what cars is he driving? His credit card bills must be insane
Posted on 8/20/14 at 12:57 pm to The Third Leg
quote:
He is paying about twenty grand or more in property taxes and not utilizing one of the best school systems in Texas that would be free of charge. Tuition for two is probably running him what, thirty, forty grand per year?
Part of keeping up with the Joneses in Highland Park or Preston Hollow is private schooling
If you aren't sending your kids to the Hockaday School you are not part of the elite
Posted on 8/20/14 at 12:57 pm to thesoccerfanjax
quote:
Some people don't know how to not spend money. It's a sickness.
this. I know professionals that live paycheck to paycheck, yearly income over $140k but end of the pay period and they are having to go through their pantry to find something to eat for dinner.
very disturbing to me. Smart people too.
Posted on 8/20/14 at 1:01 pm to goldennugget
quote:
Private School tuition for say 3 kids probably runs another $10-$15k per month for 9 months
I would think this would have to be a pretty large over estimate. That's $30k-45K for a year's tuition per student.
Posted on 8/20/14 at 1:02 pm to thesoccerfanjax
I grew up working poor and middle class. We have friends that have moved into Highland Park, and some old money family friends that have lived there for decades - it's as good as it gets for crime. Then again, I don't really consider drugs crime and understand that they are everywhere.
No community is without problems, but I would rather deal with their manufactured variety in lieu of what is going on in many places.
No community is without problems, but I would rather deal with their manufactured variety in lieu of what is going on in many places.
Posted on 8/20/14 at 1:02 pm to goldennugget
quote:
Damn 800k a year = $66k a month before taxes, so after taxes lets say $40k a month I am guessing if he lives in HP his mortgage is in the 5-10k range Private School tuition for say 3 kids probably runs another $10-$15k per month for 9 months So right there he is down to $15-20k but still what cars is he driving? His credit card bills must be insane
Nose candy doesn't show up on any statements
Posted on 8/20/14 at 1:03 pm to goldennugget
Golden, you know way too much about the demographics of Highland Park. It is obvious that something has you irritated. What happened?
Posted on 8/20/14 at 1:04 pm to goldennugget
quote:
I am talking about those upper class neighborhoods like Highland Park, TX
The CEO of my company lives there. He paid 5.5 million just for an empty piece of property. Dude has more money than he can possibly spend.
Posted on 8/20/14 at 1:06 pm to Sal Minio
quote:
What happened?
Class envy
Posted on 8/20/14 at 1:08 pm to goldennugget
quote:
Damn
800k a year = $66k a month before taxes, so after taxes lets say $40k a month
His taxes are way more than that, I can guarantee that. He probably brings home closer to $30k
Posted on 8/20/14 at 1:08 pm to VABuckeye
quote:
You realize that Mercedes start at around $30k, right? Yes, you can spend more but a lot of what you see on the road are the cheaper versions.
Like the most popular BMW, the (relatively) cheap 325i.
Posted on 8/20/14 at 1:08 pm to tigerinthebueche
"class envy"
It's more than that.
It's more than that.
Posted on 8/20/14 at 1:12 pm to goldennugget
quote:
Damn 800k a year = $66k a month before taxes, so after taxes lets say $40k a month I am guessing if he lives in HP his mortgage is in the 5-10k range Private School tuition for say 3 kids probably runs another $10-$15k per month for 9 months So right there he is down to $15-20k but still what cars is he driving? His credit card bills must be insane
He told me before his Amex payment is sometimes as high as his house note so, there's the difference. He drives a nice suburban and she drives something not American, I'm sure. They only come to Orange Beach once a year and it's always in his car so not real sure on the other vehicle.
Posted on 8/20/14 at 1:21 pm to goldennugget
I know people that struggle an overextend themselves at every income level, in many neighborhoods.
It's a trap that is very easy to step in. I work very hard to keep our spending down and play good defense, but it is a conscious effort that is always on my mind. If my wife was not on board, it would be impossible.
I know a lot of families that are over leveraged because if the husband's spending habits as well. It's not always the wife.
It's a trap that is very easy to step in. I work very hard to keep our spending down and play good defense, but it is a conscious effort that is always on my mind. If my wife was not on board, it would be impossible.
I know a lot of families that are over leveraged because if the husband's spending habits as well. It's not always the wife.
This post was edited on 8/20/14 at 1:26 pm
Posted on 8/20/14 at 1:25 pm to member12
quote:
I know people that struggle an overextend themselves at every income level, in many neighborhoods.
It's the capitalist consumption model. Wages rise, standards of living rise. Without prize - the dangling of carrots, if you will - the pursuit would be lackluster, perhaps unbearable.
This post was edited on 8/20/14 at 1:26 pm
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